Gritstone bio (NASDAQ:GRTS) Lowered to “Hold” at B. Riley

B. Riley cut shares of Gritstone bio (NASDAQ:GRTS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

Several other research firms also recently commented on GRTS. HC Wainwright reissued a neutral rating and set a $0.50 target price (down from $4.00) on shares of Gritstone bio in a research report on Tuesday. JMP Securities downgraded shares of Gritstone bio from an outperform rating to a market perform rating in a research report on Tuesday.

Gritstone bio Trading Down 6.3 %

GRTS opened at $0.21 on Tuesday. Gritstone bio has a 1-year low of $0.18 and a 1-year high of $3.33. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.83. The company has a market cap of $22.37 million, a P/E ratio of -0.17 and a beta of 0.47. The company has a fifty day moving average price of $0.53 and a two-hundred day moving average price of $0.84.

Gritstone bio (NASDAQ:GRTS) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.12. The firm had revenue of $0.92 million during the quarter, compared to the consensus estimate of $2.77 million. Gritstone bio had a negative net margin of 910.50% and a negative return on equity of 328.51%. Analysts predict that Gritstone bio will post -0.88 EPS for the current fiscal year.

Institutional Trading of Gritstone bio

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in shares of Gritstone bio in the first quarter valued at approximately $63,000. Susquehanna Fundamental Investments LLC bought a new stake in Gritstone bio during the 1st quarter worth approximately $636,000. Vanguard Group Inc. increased its holdings in Gritstone bio by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock worth $12,166,000 after acquiring an additional 317,499 shares during the period. Victory Capital Management Inc. increased its holdings in Gritstone bio by 4,598.5% during the 2nd quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock worth $342,000 after acquiring an additional 541,377 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Gritstone bio during the 1st quarter worth approximately $70,000. Institutional investors own 48.46% of the company’s stock.

About Gritstone bio

Gritstone bio, Inc, a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases. Its primary product candidate is GRANITE, an individualized immunotherapy candidate, which is in Phase 2/3 clinical trials for the treatment of microsatellite stable colorectal cancers; and has completed Phase 1/2 clinical trials for treating solid tumors.